Mutual Savings Banks
Definition of "Mutual savings banks"
A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state chartered and typically are less regulated than their closest financing relative, the savings and loan association. The percentage of their assets invested in real estate mortgages is less than the average S&L, although a higher percentage of their total mortgage portfolio is FHA and VA loans. Most mutual banks have a relatively large percentage of mortgages. Mutual banks also make personal loans which can result in capital being moved from surplus areas to deficit areas. Over two-third of the mutual banks maintain membership in the FDIC. The remaining ones are insured by state savings insurance agencies. These state agencies exercise authority over both type of investments and amount of their assets mutual banks can invest in particular types of real estate.
Popular Real Estate Terms
The most common definition of a subdivision in real estate terms is when a piece or parcel of land (referred to as a plot) is divided into smaller parts by its owner. A subdivision’s ...
Money set aside for a possible loss, such as from a fire. ...
Window(s) situated on top of a structure to furnish air and light for the inside. ...
Individual who has the initiative to star an enterprise. The entrepreneur usually hires people to work for him. ...
Concept used in valuing real property that conditions may be altered requiring a revised estimate of market value. These conditions include a shift in the demand/supply relationship, ...
Location Analysis is the appraisal of a general geographic area for a particular use. A Residential Real Estate Market professional (or consumer) rarely deals with a Location Analysis ...
Legal record used to create a condominium. It encompasses the description of the property, common elements, ownership units, and acceptable uses of the residence. ...
Rights, interest, and benefits inherent in the ownership of real estate, as distinguished from personal property ...
Book value is a quintessential term used in the financial world and the real estate business. Though, there are slight differences in its interpretation in these two areas of ...
Have a question or comment?
We're here to help.